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The Helpdesk Crew has consulted our lawyer and the lawyer has advised the following:

1. Since the BNM raid on 1 October 2012 (before the charge), any attempt to recover the seized assets would have been futile as the case was still under investigation. Now that GMSB and its directors have been formally charged in court, all monies and gold seized are the subject matter of the case and as such will be used as exhibits during trial.

2. As exhibits, the AG has an absolute say in its custody. No one can apply to the AG (because now it is under the purview of the AG’s department and no longer that of BNM) to get the monies and gold released until the proceedings of the hearing/trial is fully exhausted, including the prospect of any appeals to higher courts.

3. Sections 55, 56 and 61 of AMLA (the provisions dealing with forfeiture of seized properties) are no longer applicable to our situation because there are already multiple charges levelled against the company and its directors and the trial dates have been duly fixed. If the company and its directors are found to be guilty, all the seized properties are liable to be forfeited pursuant to S. 55 of the act. See also the recent Court of Appeal case involving FX Capital Consultant (M) Sdn Bhd & Raja Noor Asma Raja Harun (The Malaysian Insider dated 4th October 2013).

4. Should anyone decide to proceed with winding up petition against the company or for that matter if the company is wound up, we may file our proof of debt staking a claim for our gold and monies as “unsecured creditors”. But by doing this, we are merely staking a claim against the company and such action does not in any way guarantee that we will get our gold or monies back. The downside of doing this is of course the risk of losing more money (paying for legal fees to lawyers to file such claims) but getting nothing back in return.

5. It is worthwhile for us to engage our lawyer to hold a watching brief (i.e. a lawyer representing all 2000 of us as customers) over the whole conduct of the case. This lawyer will sit in during trial as solicitor acting on our behalf and his role is to have our interests protected at all times and also to know as well as to keep us informed of what is going on.

6. We will only have a chance of claiming our monies and gold back as unsecured creditors if the accused persons are acquitted at the end of the trial process (barring the contingency of any appeal to higher court). However, as mentioned above, if the accused party or parties are found guilty, the gold and monies will be deemed to be part and parcel of illegally obtained assets and consequently will be forfeited by the government to go into “the treasury’s coffers”. See the above mentioned court of appeal case.

Heeding the lawyer’s advice, the JR team is agreeable to proceed to act accordingly.

Helpdesk Crew, Kuala Lumpur

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Helpdesk is at a crucial stage of final preparation of its court action against the authorities. The lawyer acting for the case wish to include in the pleadings a demographic profile of all affected Gennevarians who have medical conditions or disabilities and are presently suffering due to financial difficulties that was caused (whether directly or indirectly) by BNM’s unjust raid on Genneva Malaysia Sdn Bhd in October last year.

As such, Helpdesk is appealing for the following categories of Gennevarians to come forward so that your special plight is well taken note of:-

People who are in need of dialysis treatment or other dire treatment that is life sustaining;

Retirees or pensioners;

People with children studying overseas; and

People who are in dire straits and are highly dependent on their savings which have been stuck since the raid.

Therefore, we shall be pleased to hear from you by either EMAILING to us at gennevafamily@gmail.com or by SMS at 012-3012509 stating your name, NRIC number, details of your condition that you are suffering and most importantly your contact number and address by Saturday 11 May 2013.

We would like to thank you in advance for participating in this exercise.

Limited 100 seats per session. COME EARLY TO REGISTER.
VENUE : GOLDBEAM, M Floor. This briefing will be conducted in English, strictly for Genneva customers and consultants who are JR Participants only.
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The Help Desk Crew is aware that there has been tremendous anxiety and frustration amongst some of you who are looking forward to progress updates on the filing of the court proceeding against the authorities who are holding our gold and money unjustly.

Help Desk would like to inform that data entry has been completed last week and duly compiled according to the respective categories of affected Gennevarians. In other words, we know each and every one of you who have joined in the class action. That makes you identifiable and contactable either through the conventional SMS or by email.

The legal volunteers have been working hard with regards to the proposed JR action and they have consulted at least five different legal eagles who have established themselves in the legal circle and these lawyers have generously given their respective input and opinion pertaining to the different options and scenarios as well as consequences that can be safely ventured through by all of us as a class of aggrieved plaintiffs. The findings are now collated into a summarized conclusion.

To each and every one of you who have boldly stepped forward and be counted, Help Desk is determined to see you through a decisive actionable course of legal redress against the unjust raid that has befallen on Genneva Malaysia Sdn Bhd, thus resulting in all Gennevarians to be a financial casualty in the hands of some reckless people holding power in authority. As interested party, you are naturally anxious to know what’s happening and Help Desk volunteers are not going to keep you in the dark.

As such, there will be update sessions to be held from time to time just for you and at the end of every session there will be Q&A so that you are clear of all issues that may crop up during the different stages of the legal progress. There is going to be a first session held next week and all those involved would be duly notified by SMS and/or email of the time and venue.

Please note that the update sessions are only for Gennevarians who have participated in the JR action and as such it is not open for all members of the public. Entry to future meetings will be checked against names that are registered with Help Desk. Members of the public who are not involved will be denied entry.

► KOTA KINABALU : 12:00PM-1PM, briefing followed Press Conference to be led by PKR Complaint Bureau Chief Christina Liew at SGCC function room 1st floor, Sabah Golf & Country Club. This briefing will be conducted in English, open to Genneva customers and consultants.

MONDAY, 11 March 2013:

KUALA LUMPUR : 7:30PM, GOLDBEAM 1st Floor. This briefing will be conducted in English, open to Genneva customers and consultants.

TUESDAY & WEDNESDAY, 5 & 6 March 2013:

KUALA LUMPUR : 7:30PM, GOLDBEAM 1st Floor. This briefing will be conducted in English, open to Genneva customers and consultants.

MONDAY, 4 March 2013:

IPOH: 7:30PM, Genneva Office, Ipoh. This briefing will be conducted in Mandarin and English, open to Genneva customers and consultants.

GENNEVA Malaysia Sdn Bhd was raided by Bank Negara Malaysia on 1st October, 2012 for suspicious of operating illegal investment schemes using gold. Genneva Malaysia is an innovative gold trading company in Malaysia.

GENNEVA Malaysia had attracted about 6,000 consultants with near to 60,000 customers transforming 300,000 lives for this 1,000,000 welfare of Malays, Chinese, Indian and others with an estimated total sales turnover revenue of RM3 billion as reported by the newspaper. Total numbers of customers in Sabah is expected to be around 1,000 from all walks of life.

In the last five months, the customers of GENNEVA Malaysia have send many petitions to our current and former Prime Minister of Malaysia, Governor of Bank Negara Malaysia, Minister of Home Affairs and various political parties and politicians to seek assistant to appeal to Bank Negara Malaysia to expedite the investigation of GENNEVA Malaysia.

We, the affected customers in Sabah want to believe in the Central Bank of Malaysia claim to protect and stand by the people but we simply don’t see that is happening here after 5 months where there is no update given to the Rakyat on the outcome of the investigation.

2.0 OBJECTIVES OF TODAY’S EVENT

The objective of today’s event is to request Bank Negara Malaysia to give us, the customers an answer as to the outcome of their investigation without unnecessary and further delay so that we can take the necessary action to recover our losses.

3.0 WHY CUSTOMERS CHOOSE TO BE IN FAVOUR OF GENNEVA MALAYSIA?

We as the Customers of GENNEVA Malaysia basically choose to buy gold from GENNEVA Malaysia to hedge against inflation.

We choose Genneva Malaysia because we witness their credibility and transparency in their operation.

They create not only favorable income for many a family but they provided employment for the jobless, for semi-retirees, for single parents etc

They help to put many families home with food on their table, support high cost of medical bills, support our old aged parent and sick love ones, support our children educations, pay loans and channel part of our income to charity centers etc.

4.0 WHY NO FAULT OF GENNEVA MALAYSIA AND SUPPORTERS

Our confidence was enhanced as we understand that the Central Bank was holding talks, a consultation dialogues with Genneva Malaysia. This was on-going for the last 8 months before the raid with the noble intention to help and guide Genneva Malaysia to ensure they are compliance to all legality of their operations in order to protect Genneva Malaysia and their supporters.

The dialogue and consultations were as follow:

Genneva Malaysia has been in consultation with their Syariah Committee. All necessary Sale and Purchase contracts or documents between Genneva Malaysia and customers are to be vetted by the Syariah committee and to be carried out by Genneva Malaysia (Note: Syariah Committee members required to obtain prior written approval from Central Bank.)

On Feb 12, 2012 Central Bank’s director of legal department informed the company that after having audited Genneva Malaysia, they came to a conclusion that there was no issue in Genneva Malaysia business model.

Key Notes of the advertisement “No buy back guarantee, Not an investment company, Only a Gold trader.”

8 months ago before the raid, in order to protect their consultants and customers from the grey areas of law, Genneva Malaysia took the liberty to write to the Prime Minister Dato’ Najib Tun Abdul Razak urging for regulation of gold business as the gold business is currently not regulated.
Upon receipt of the letter, the Prime Minister directed Central bank and the Finance Ministry to set up a task force to study the regulation of gold business in the country.

5.0 DIGNITARIES GRACING GENNEVA MALAYSIA’S FUNCTIONS

On top of it, we were impressed with dignitaries gracing Genneva Malaysia’s functions as below:

Judging from the above, the controversial raid has probably sent a mix messages to the people for their real reason behind it.

From the on-going dialogue and consultation between Central Bank and Genneva Malaysia to a sudden shift to raiding was a shocking blow which not only threatening and robbing many livelihoods but inflicting emotional and personal grief as well as the trust of the people;

It was heart breaking for Genneva Malaysia and supporters who had put all their faith and trust with Central Bank who were enjoying an on-going dialogue and consultation with them for the last eight months before the raid.

Many people cannot help wondering if the action they had taken could be triggered by many jealousy and hatred from rivals whom they need to please instead of directing them to face their own challenges to improve their platform to encourage financial freedom without forcing people back to out-of-favor streams that create more and more debt slaves.

6.0 ADDRESSING MISCONSTRUED ISSUES

Genneva Malaysia does not offer an investment plan.

Genneva Malaysia is just a gold trading i.e. buying and selling of physical gold (not paper).

All receivables above $10,000 from buyers are through the banks.

Should the Central Bank channel their resources to help company like Genneva Malaysia who are willing to take a step further to assist in the task force on regulations of gold?

Genneva Malaysia have made several requests to the Prime Minister and relevant authorities to regulate gold trading business.

If there are any suspicion on money laundering, the banks are responsible to vet through customers details and any suspicious of incoming customers funds.

Genneva Malaysia does not give out interest but discretionary Hibah (gift) – base on syariah principles.

SUSTAINABILITY – Genneva Malaysia is not a financial institution or get-rich-schemes. We do not know if there is a law or stature in Malaysia that can be charged if sustainability is in questions. Otherwise, many trading companies would have to be raided.

How Genneva Malaysia make money? We are very sure that is their business secret which no businessman would divulge. But there is one important secret we know is their century of experiences in combination of their ages.

Genneva Malaysia has always met their obligations and commitments to their consultants and customers.

10. Bail out – Gold trading is not under the purview of Central Bank, the latter is not obligated to exercise bail out.

7.0 WIN-WIN SOLUTION

We the customers of GENNEVA Malaysia would like to seek the urgency for a Win-Win Solution between the Central Bank and Genneva Malaysia with their customers and consultants for the sake of over 300,000 livelihoods involving more than a 1,000,000 of Malays, Chinese, Indian and others welfare.